Univar successfully closes Magnablend acquisition
REDMOND, Wash. and WAXAHACHIE, Texas, Dec. 11, 2012 /PRNewswire/ -- Univar, a global leader in the distribution of chemistry and related services, announced today it has successfully completed the acquisition of Magnablend, a Texas-based provider of custom chemical manufacturing, blending, and packaging solutions. This step reflects Univar's continued focus and commitment to growth in the rapidly-growing, North American oil and gas market.
"We are thrilled that the acquisition has closed," said Univar President and Chief Executive Officer Erik Fyrwald. "Our ability to offer a comprehensive product portfolio and expanded geographic footprint will provide major benefits to our customers and suppliers in the oil and gas and agriculture industries."
Following the acquisition, Magnablend will function as a wholly-owned subsidiary of Univar. The company will continue to operate out of its existing facilities.
Scott Pendery, president and chief executive officer of Magnablend said, "Magnablend's market activities, supplier relationships, facilities, and locations are a perfect fit to the Univar network. Both of our companies share the same dedication to building and maintaining long-standing relationships with customers and suppliers. We also share the same focus on quality, excellence, expertise, and safety, and we are convinced that our employees and business partners will benefit greatly from the new combined organization."
Founded in 1979, Magnablend specializes in custom chemical manufacturing, blending, and packaging for a variety of industries, including: energy/oil and gas services, agriculture, water treatment, construction, and industrial cleaning. The company blends guar gum slurries, fluid loss additives, buffers, breakers, friction reducers, spacers, specialty cement additives, root stimulators, micro nutrients, specialty fertilizers, nitrogen stabilizers, animal nutrients, coil cleaners, degreasers, and automotive after-market products. In 2012, Magnablend sales will exceed $400 million. For more information, visit: www.magnablend.com.
Univar is one of the world's leading distributors of industrial and specialty chemicals. Univar represents over 3,500 chemical producers and provides its customer base, made up of 115,000 customers, with a full portfolio of products. Univar operates a global network of more than 260 facilities in North America, Europe, the Asia-Pacific region, and Latin America, with additional sales offices located in Eastern Europe, the Middle East, and Africa. In 2011, Univar reported sales of $9.7 billion. For more information, visit: www.univar.com.